Regional Players Dominate the Market Holding nearly 40% of Revenue Share Despite the Presence of about 300 Competitors Comprising Global Players, Regional Players, and Country-Niche Players finds a recent market study on the Global Silicon Metal Market by Ken Research
Silicon metal is a lustrous and grey semi-conductive metal and is widely used to manufacture solar cells, microchips, steel, and others. It acts as a base material for different products and hence has an important role in the consumer and industrial sector. The silicon metal manufacturing process is highly energy intensive and it can be manufactured by smelting immersed electric arc furnaces.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
1. Country-Niche players constitute ~55% of the Total Number of Competitors and hold ~30% of the Total Market Revenue
A comprehensive competitive analysis conducted during the Research Study found that the Global Silicon Metal Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players who have their niche in the Silicon Metal Market. The regional players comprise ~35% in terms of the number of companies and hold about 40% of the market share. Key players in the market are focused on strategic developments such as expansion, joint ventures, collaboration, and others to gain significant market share.
2. Leading Players Expanded Production of Silicon Metals
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as Ferroglobe, Dow, and Elkem ASA among others are highly focused on the research and development of silicon metals. Furthermore, market players are engaged in strategic developments and are constantly expanding their production facilities to fulfill the demand of the end-users.
- In May 2022, Wacker Chemie AG planned to expand its production capacity of silicon metal in Norway. The company aimed to increase its production of silicon metal by 50%.
- In December 2019, Hoshine Silicon expanded its production capacity by building 800,000 mt/year of silicon metal capacity units in Yunnan Province. The company aimed to expand its production capacity where the availability of sustainable high-grade silicon ore is high and thus Yunnan province is an ideal investment area.
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3. Increased Government and Manufacturers Initiatives Promote Silicon Metal Market Growth and Development
- In January 2022, the Indian government supported the initiative of development of the semiconductors and strengthening the ecosystem with a budget of over Rs 76,000 crores. The government envisioned making India economically self-reliant and a technology leader. The increasing development of semiconductors in the country is directly increasing the demand for silicon metal.
- In May 2019, the government of China launched an initiative named “Made in China 2025”, under which industrial policies are set to make Chin, a global high-tech manufacturer. The country is focused on developing electric cars, next-generation information technology, advanced robotics, telecommunication, and others which is directly increasing the demand for silicon metal.
For more information on the research report, refer to the below link:-